Correlation Between Oslo Exchange and Arribatec Solutions
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By analyzing existing cross correlation between Oslo Exchange Mutual and Arribatec Solutions ASA, you can compare the effects of market volatilities on Oslo Exchange and Arribatec Solutions and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Oslo Exchange with a short position of Arribatec Solutions. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Arribatec Solutions.
Diversification Opportunities for Oslo Exchange and Arribatec Solutions
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oslo and Arribatec is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Arribatec Solutions ASA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Arribatec Solutions ASA and Oslo Exchange is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Oslo Exchange Mutual are associated (or correlated) with Arribatec Solutions. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Arribatec Solutions ASA has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Arribatec Solutions go up and down completely randomly.
Pair Corralation between Oslo Exchange and Arribatec Solutions
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.09 times more return on investment than Arribatec Solutions. However, Oslo Exchange Mutual is 10.94 times less risky than Arribatec Solutions. It trades about 0.02 of its potential returns per unit of risk. Arribatec Solutions ASA is currently generating about -0.07 per unit of risk. If you would invest 139,313 in Oslo Exchange Mutual on September 1, 2024 and sell it today you would earn a total of 1,649 from holding Oslo Exchange Mutual or generate 1.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.24% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. Arribatec Solutions ASA
Performance |
| Timeline |
Oslo Exchange and Arribatec Solutions Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Arribatec Solutions ASA
Pair trading matchups for Arribatec Solutions
Pair Trading with Oslo Exchange and Arribatec Solutions
The main advantage of trading using opposite Oslo Exchange and Arribatec Solutions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Arribatec Solutions can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Arribatec Solutions will offset losses from the drop in Arribatec Solutions' long position.| Oslo Exchange vs. SD Standard Drilling | Oslo Exchange vs. Romsdal Sparebank | Oslo Exchange vs. Polaris Media | Oslo Exchange vs. Sunndal Sparebank |
| Arribatec Solutions vs. Next Biometrics Group | Arribatec Solutions vs. Endur ASA | Arribatec Solutions vs. Saga Pure ASA | Arribatec Solutions vs. Idex ASA |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
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